Global Herbal Supplements Market 2022 – Market Opportunities And Strategies
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The herbal supplements market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 7%, as per The Business Research Company’s market report!
Global Herbal Supplements Market https://www.thebusinessresearchcompany.com/report/herbal-supplements-global-market-report
The Herbal Supplements Market Size In 2022 And Forecast
The global herbal supplements market is expected to grow from $9.42 billion in 2021 to $10.10 billion in 2022 at a compound annual growth rate (CAGR) of 7.27%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The herbal supplements market is expected to reach $13.32 billion in 2026 at a CAGR of 7.16%.
The herbal supplements market consists of sales of herbal supplements by entities (organizations, sole traders, and partnerships) that refer to supplements derived from plants that are used for improving health conditions.
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Increase In Number Of Health-Conscious Consumers Is Driving The Growth Of The Herbal Supplements Market
According to the International Food Information Council’s (IFIC) 2020 food and health survey, Americans have a strong interest in becoming more health-conscious, with 43% following a specific diet or eating pattern in 2020, up 38% from 2019. Also, 54% of all consumers cared more about the healthfulness of their food and beverage choices in 2020 than they did in 2010. Hence, the increasing number of health-conscious people is expected to propel the growth of the herbal supplements market in the forecast period.
Competitive Landscape And The Regional Analysis Of The Herbal Supplements Market
Major players in the herbal supplements market are Ancient Greenfields PVT LTD, Archer Daniels Midland Company, Arizona Natural Products, Bio-Botanica Inc., Blackmores, Herbalife International of America, Inc., Ricola, Solgar, Inc., Jarrow Formulas, Inc., Glanbia PLC, Gaia Herbs, NBTY, Inc., Nature’s Bounty, NaturaLife Asia Co., Ltd., Nutraceutical International Corporation, herbochem, Swanson Health Products, Third Coast Herb Co., Now Health Group, Herbal Africa, Sunfood Nutraceuticals, Wonder Labs, Wellness Origin Indy, ABCO Laboratories, Inc., Dabur, Weleda, Schwabe, Kunming Pharma, Taiji, DSM, and Rainbow Light Nutritional Systems.
Additionally, as per TBRC’s research – North America was the largest region in the herbal supplements market in 2021 holding the largest market share and Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Herbal Supplements Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the herbal supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the herbal supplements market.
Increasing Investments In Research And Development – A Key Trend In The Herbal Supplements Market
Companies in the herbal supplements market are increasing their investment in research and development. This trend is positively impacting the market.
Herbal Supplements Market Segmentation By The Business Research Company
1) By Form: Tablets, Capsules, Liquid, Powder And Granules, Soft Gels
2) By Sources: Leaves, Fruits, Roots, Vegetables, Barks
3) By Application: Food And Beverages, Pharmaceuticals, Personal Care
4) By Distribution: Store Based, Non-Store Based
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